Liberty Announces Semi-Annual Interest Payment on 3.75% Senior Exchangeable
Debentures Due 2030 - Results in Further Reduction of Adjusted Principal
Amount
Business Wire
ENGLEWOOD, Colo. -- August 15, 2014
Liberty Interactive LLC ("Liberty"), a subsidiary of Liberty Interactive
Corporation (Nasdaq: LINTA, LINTB, LVNTA, LVNTB), announces a semi-annual
interest payment and an additional distribution to the holders of its 3.75%
Senior Exchangeable Debentures due 2030 (the "Debentures"). The amount of the
interest payment is $18.75 per $1,000 original principal amount of Debentures,
and the amount of the additional distribution is $0.62056 per Debenture.
Under the Indenture for the Debentures, the original principal amount of the
Debentures is adjusted in an amount equal to each extraordinary distribution
made to holders of the Debentures. Thereafter, the adjusted principal amount
is further reduced on each successive semi-annual interest payment date to the
extent necessary to cause the semi-annual interest payment to represent the
payment of an annualized yield of 3.75% of the adjusted principal amount. This
latter adjustment, to the extent it is made by reason of a particular
extraordinary distribution that results in an adjustment to the principal
amount of the Debentures, takes effect on the second succeeding interest
payment date after the payment of that extraordinary distribution.
To date, there has been one extraordinary distribution to holders of the
Debentures. On August 7, 2013, Liberty made an extraordinary distribution of
$46.1258 per $1,000 original principal amount of Debenture arising from the
merger transaction between Sprint Nextel Corporation and SoftBank Corp.
Adjustments to the principal amount of the Debentures do not affect the amount
of the semi-annual interest payments received by holders of the Debentures,
which will continue to be a rate equal to 3.75% per annum of the original
principal amount of the Debentures. Below is a detail of the amount of the
semi-annual interest payment being made on the Debentures, its allocation
between payment of interest and repayment of principal and the revised
adjusted principal amount resulting from the payment, per $1,000 original
principal amount of the Debentures:
August 15, 2014 Total Additional August 15, 2014
Beginning Payment Interest Payment of Ending Adjusted
Adjusted Principal Principal
Principal
$953.0093 $18.7500 $17.8689 $0.8811 $ 952.1282
Liberty is also making an additional distribution of $0.62056 per Debenture,
attributable to the quarterly cash dividends paid by CenturyLink Inc. on
3/21/14 and 6/20/14. The additional distribution will not result in an
adjustment to the principal amount of the Debentures.
The semi-annual interest payment and additional distribution are expected to
be made on August 15, 2014 to holders of record of the Debentures on August 1,
2014.
About Liberty Interactive LLC
Liberty Interactive LLC is an intermediate subsidiary of Liberty Interactive
Corporation, owning interests in a broad range of electronic retailing, media,
communications, and entertainment businesses.
Contact:
Liberty Interactive LLC
Courtnee Ulrich, 720-875-5420